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CNBC
Dec 12, 2012 12:00pm EST
so much. >>> welcome to a special edition of "the halftime show." the final fed decision of the year is less than 30 minutes away. we'll bring you all of the market action and analysis with a big lineup of guests, including bill gross of pimco, charles reinhardt of morgan stanley, and professor susan wachter of the wharton school. we have mostly green on the street. modest gains for the dow jones industrial average. there is the s&p 500 in positive territory today as well. positive financials leading the way. tech a bit of a drag. speaking of tech, apple's next big bite. new reports suggest it's working on a tv. what's it mean for a stock that's suddenly been struggling. saving face. facebook is up 10 of the past 12 days. now as it joins the nasdaq 100, should you own it? one stock, two strong opinions as we debate it. first, our top story, fed watch. the markets are facing key questions today. more stimulus for stocks on the way. what happens if it it's not. our traders for the hour, pete na jarian. pete, what's the fed going to deliver, and what's it mean for the markets? >> everyb
FOX Business
Dec 12, 2012 4:00pm EST
the fed announced and then it happened, it did pop and lost the momentum into the close. ending a five-day winning streak, 70 points plus gain. telecom and financials were sitting pretty much the top performing sector. technology and materials lag. treasury prices falling as the fed boosting bond buying sparked inflation fears. we haven't seen it yet but the concern is very present. ten-year bond yields in the highest level in more than a month and lower races points 1.7%. silver was the biggest precious metals winner. settle in just under $34 per ounce than gold and copper getting a boost today. called up more than $13, copper and in the day nearly 1% in the aftermarket it all came down. david: says watch out because there will be a fiscal cliff, and profits telling us resolution or not 2013 will be good for the market. let's start with todd, the dead, you have the whole shebang, the 40 billion, the 45 leanne in the treasuries, why did the market fissile? >> first thing we have to look at is the market expectation. we had a five-day rally coming into this. the market knew this was com
FOX
Dec 30, 2012 11:15pm EST
>>> welcome to fed ex field, are the redskins are smelling blood in the water. this sold out crowd is about to let loose. welcome into nissan sports xtra. i'm scott smith. the redskins have 3-point lead with under 3 minutes to play. try to close this thing out and head to the postseason for the first time in five years. try to close in on that seventh consecutive victory. there are some big performances all the way around for the redskins. let's start first defensively. allowed less than 300 cowboys total yards and picked off tony romo three times. rg3, not a great performance, just 100 yards through the air. but on a somewhat less than 100% knee he ran for about 60 yards to keep that cowboy defensive honest. alfred morris, closing in on 200 yards rushing. absolutely shattering the franchise season mark in terms of yards rushed for in a season. clinton portis was on hand. rob jackson with an interception, and now the skins are trying to milk this clock and work it down to zero. already have an idea of what they will play in the first round of the playoffs if they can hold this one,
PBS
Dec 12, 2012 6:30pm PST
: that and more tonight on "n.b.r." >> susie: an historic move today by the federal reserve. fed chairman ben bernanke and other policy makers said they will keep their key interest rate near zero until the unemployment rate falls below 6.5% or inflation rises to 2.5%. now, this is the first time the fed has set a clear economic target for how long interest rates will stay at record lows. the surprise decision means the central bank will continue stimulating the economy by buying bonds. darren gersh explains the dramatic move. >> reporter: ben bernanke and his colleagues will no longer mark a date on the calendar for when they expect to begin raising interest rates. from now on, they'll make that call based on a target for the unemployment rate and inflation. >> it'll act to some extent as an automatic stabilizer. so if the outlook worsens and that leads markets to think that the increase in rates is further out in the future, that will tend to lower longer term rates, and that will tend to be supportive of the economy. so that has an automatic stabilizer-type effect. it offsets adverse s
FOX Business
Dec 12, 2012 11:00am EST
. what the fed does today will speak volumes about whether or not we are going over the fiscal cliff. dagen: and overhaul of corporate taxes. that is on the table. connell: well other states now fall after michigan. dagen: the president of stubhub is here to talk all about it. connell: first, let's get to the floor of the new york stock exchange. nicole: $1.2 billion share repurchase. they are buying back shares from the estate of a longtime shareholder. here is a look at stocks this morning. very busy. it was halted for news. there is the stock right now. almost $134,000 a share. of almost 2.5%. let's take a look at the broader market average. the dow is up five days in a row. traders say that the trend continues to the upside. the dollar is lower. back to you. connell: you mentioned bad day. first, the latest from capital hill. they say we are over the fiscal cliff, unless tax rates go up. the sign will come from the fed. we will know in the next 90 minutes. former atlanta fed joins us now. how is the decision connected, do you think, to the fiscal cliff? >> it has to do with balan
FOX Business
Dec 13, 2012 4:00pm EST
fed did not do the money printing. a lot worse than it was today. could have been worse. facebook, when the market is in the red, facebook in the green, today is not an exception. today, a big bump, over 2% bump. tomorrow, of course, is the third lock up, another 156 million shares of facebook coming online, previous times when that's happened, we saw the stock jump as it did today. liz: right. everybody expected it to fall, it didn't. we're watching that. when apple falls on iphone estimate cuts, so do the component suppliers, the so-called halo effectings. sigh works, logic, the biggest losers here, biggest victims, but broadcom taking a hit, their products inside apple as well. david: not all the solar stocks doing well. these, in fact, taking a big hit with the exception of solar limit, up almost 5%, but other solar stocks deeply in the red, again, those things are fickle from day-to-day. you may have a big up or down. so is the federal reserve with its massive spending do more harm than good? wells fargo chief economist says the fed has to back away a little bit and let rates
FOX Business
Dec 12, 2012 3:00pm EST
] >> booking over the past year or several years, how would you evaluate the fed accuracy making economic forecasts and how does that affect the ability to make monetary policy decisions connected to the threshold? >> it is fair to say that we have overestimated the pace of growth, total output, gdp growth from the beginning of the recovery and therefore had to continue to scale down our estimates of output growth. but interestingly, at the same time, we have been more accurate, not perfectly accurate but somewhat more accurate in forecasting unemployment. how do you reconcile those two things? i talked about this in remarks to the economic club recently before thanksgiving. and i think the reconciliation is what we are learning is at least temporarily, the financial crisis may have reduced somewhat the underlying potential growth rate of the u.s. economy. it has interfered with business creation, investment, technological advances and so on. that can account for part of the growth. at the same time, what monetary policy influences is not potential growth, not the underlying sexu
PBS
Dec 11, 2012 4:30pm PST
the u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected. >> reporter: the fed may announce a new twist in its bond buying plans, but that doesn't necessarily mean the stock market will shout. at it's final meeting of the year, the central bank is not expected to simply tend its operati twist program. that's the nickname for the fed's strategy of buying long- term treasuries and, at the same time, selling an equal amount of shorter-dated bonds. that's important because it keeps the bank's balance sheet the same size. now, the fed may be ready to do a new stimulus dance. >> under twist, they've been purchasing $45 billion longer term treasuries while at the same time selling $45 billion short term. they've pretty much run out of short-term stuff to sell, so i think they'll be continuing to purchase the long term, but purchasing outright, expanding their balance sheet. >> reporter: and that would be on top of $40 billion a month
CNBC
Dec 13, 2012 3:00pm EST
"closing bell." i'm maria bartiromo at the new york stock exchange. it's a case of what the fed and fiscal cliff follies for the stock market today, bill. >> sure is. welcome back. i'll bill griffith. stocks losing streams after house speaker john boehner and senate majority leader harry reid stoked the notion that a deal is not close. down as many as 94 points on the dow at the low of the session and now down at 82 at 13,163. the nasdaq down 26 points right now, a decline of almost a percent at 2987 and the s&p 5 hundred index, trying, doesn't look like it will, seven straight up days, not today though, down ten points at 1418. >> investors dealing with jewel issues. not only is the fiscal cliff situation looking dicier by the day as we head headlines out of announcement by the federal reserve's announcement tying rate hikes to the unemployment rate. >> our next guests are here with their best ideas going into the new year. today's "closing bell" exchange, gary webbush here with us and steve sax from pro shares advisors and steven gil garcetg and our own jeff cox. no encouraging wo
CSPAN
Dec 1, 2012 2:15pm EST
coming fiscal collapse." where does the fed benefit in to "rollback"? >> good question. well, the fed is sort of another one of these topics that, again, we are taught not to really think about not to subjective to critical scrutiny, again, it's one of the thicks there for the common good. if you have a question about the federal reserve you're probably a crank. you might need some sort of psychology evaluation. because of the most financial crisis it's harder to make the arkment. people are sane are asking question about the federal reserve. what is this? does it do? what i'm suggesting is the fed is not the institution that when we respondent usely have the business sickle that have no explanation, the fed comes to the rescue and so.s the problem. the fed typical intense fies the program what we need to do is roll back the fed as well. the conventional wisdom surrounding the fed is dead
CNBC
Dec 12, 2012 3:00pm EST
jones. looking over the past year or several years, how would you evaluate the fed's accuracy in making economic forecasts, and how does that affect the ability to make monetary policy decisions, especially as it's connected to the thresholds? >> well, i think it's fair to say that we have overestimated the pace of growth, total output growth, gdp growth from the beginning of the recovery, and we have, therefore, to continue to scale down our -- our estimates of output growth, but interestingly at the same time we have been more accurate, not perfectly accurate by any means, but we've been somewhat more accurate in forecasting unemployment, and how do you reconcile those two things? i talked about this in remarks i gave at the new york economic club recently right before thanksgiving, and i think the reconciliation is that what we're learning is that at least temporarily the financial crisis may have reduced somewhat the underlying potential growth rate of the u.s. economy. it has interfered with business creation. with investment, with technological advances and so on, and that can acc
FOX Business
Dec 12, 2012 1:00pm EST
take a look at how stocks are at session highs. everyone rallying on the news that the fed is hard at work. lori: everyone loves stimulus. we will wait to hear from the man himself. bernanke about to take to the podium for a news conference in and hour. melissa: vowing to work through christmas break until a deal gets done. democratic congressman john carney joins us with his take. our own nicole petallides is standing by on the new york stock exchange. nicole: you are seeing back-and-forth action on the dow jones industrials. they do seem to like it because basically it is the fed putting everything on a silver platter here and is giving it to the world and printing more and find more. it is doing that for an extended period. the people on wall street are saying what are they trying it to unemployment rates you saw the market selloff and now regain its footing. you do the qe forever. gold will be something that we should take a look at. the dollar is something that we have watched slipping away. it is continuing to do that. we have seen things and drugs doing well. the dow jones i
CNBC
Dec 12, 2012 1:00pm EST
. >> absolutely. spend the night in a hotel with scott walker tonight at 9:00. ats he froo free. fed leaving interest rates the same but that's not the news. there is a new bond buying program and making an historic move keeping interest rates down low so long as unemployment rates stays above 6.5%. tying the rate it an economic trigger. an date. fed chief bernanke gearing up in about an hour's time. apple moving into your living room. yes, sir. tech tightian reportedly closer to testing several tv set designs. will it be the game-changer that so many have been waiting on? and you heard it here on cnbc. j.p. morgan's jamie dimon. taking about the fiscal cliff. do they expect a deal? their take on what happens if we do go over. my partner sue at the new york stock exchange. my partner sue with big interviewes this hour. >> that's right, ty. i spent the afternoon at blackrock's trading room and i got their outlooks for 2013. you will see it first here on cnbc. >>> here are investment take aways. fixed income. they feel there is danger in what many people consider a safe play. commoditi
CNBC
Dec 13, 2012 6:00am EST
replace? this replaced a time horizon commitment. the fed had said we're going to be accommodative until at least mid 2015. so then it moved and they said, well, we're going to be accommodative until we get these inflation and unemployment numbers to these levels. is this a really big change? i'm not sure that it is. i mean -- >> your gamble is we could be at 6.5% unemployment by mid 2016. >> i think, you know, the point is that the bigger issue is what are the asset pure chases? at what pace are these asset purchases and how long will they do them? as long as they are not committing themselves and not tying themselves to anything, all they're saying is they have been tying themselves to a date, now they're tying themselves to a number. we're going to be in here for a long time. >> we've got qe now. we already knew we had qe. 85 billion, qe, the market was down 2 points yesterday on qe perpetual. now we know we're going to go to get the 6.5% before we stop. if we're in a new normal, like pimco says and like ryan hart, we're never getting to 6.5%. so this is qe perpetual for as long
FOX Business
Dec 10, 2012 4:00pm EST
the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort to continue to support risk assets. whether they're equities or commodities. the metals market had a very positive day, recovering a bit with the damage done last week. risk assets are doing well, but over the fiscal cliff for sure in december. liz: the fed, the fed, the fed. they're not going to do anything, but they might announce some sort of easing that is what we constantly talk about and wonder because that has been the trade. with it had a decent rally, the market up double digits the past year and a half very much in part because of the fed pillow put under there. what do you think happens and will there be
PBS
Dec 12, 2012 5:00pm PST
next step the fed will start buying the same amount of treasury bonds in january. that's on top of the 40 billion each month it's buying in morning bonds. analysts say it's an unprecedented move for the fed to spell out its goal to bolster the economy. after the policy board meeting the fed chairman expressed stro conrn about t fisl cliff. he urged the obama administration and congress to resolve the problem as soon as possible. >> clearly this is a major risk factor and a major source of uncertainty about the economy going forward. we would try to do what we would. we would increase a bit but i want to be clear that we cannot offset the full impact of the fiscal cliff. it's too big given the tools we have available and the limitations on our policy tool kit a this point. >> let's get a check on the markets now. following the feds decision to take monetary easing steps, the dollar is higher against the yen. that is trading at 83.39 to 40. this is the highest level in eight months. participants are buying dollars due to receding worries after the fed's action. they are hoping the bank o
CNBC
Dec 13, 2012 1:00pm EST
after the feds move to pay interest rates for unem plo ploimt rate. the jobs picture keeps improving and rates rise faster than expected. what should you do if that happens? the map at war, heating up. google unveiling its new map for the iphone after given the boot by apple. who will win this battle? and shares of best buy, moving up by, look at that, nearly 15% today. reports its founder could make a take over offer for that retailer, but is that the best move? my partner, sue herera at the new york stock exchange for us. sue? >> ty, it is a little bit after down side bias today. investors are losing enthusiasm over the fed's move. and more specifically, the employment rate. right now, the dow is down 57 points on the trading session. most of that drop cake after mr. boehner made comments about the continues impasse in trying to resolve the fiscal cliff. s&p down 23, down three quarters percent. and the nasdaq is down about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we do
CNBC
Dec 13, 2012 2:00pm EST
to the fed as opposed to the fiscal cliff. >> i'm not discounting the fiscal cliff but i think a lot of this is sell on the news related to the federal reserve. we have seen this news before. remember, take a look at the s&p 500. i don't think it is a coincidence we hit the highs of year september 14th. that's the day after the fed meeting when they announced quantitative ease meetings. they bought into the fed meeting then started selling immediately after. we saw thmovie before and they e doing this before. two months high on the dow jones industrial, a two-month chart of the dow jones industrial average, and you will see. there are the highs. and we are drifting lower here. i put more of this on sell on the news of the fed. spike and bond yields got a lot of e-mails talking about inflation in 2013. this has not been a successful trade but number of the etfs exist out there. spider gold trust with the classic hedge against inflation. one to five-year tips. very big etf. then you can even bet against long-term treasuries with the shares ultra short. only works for a day. but none of
FOX Business
Dec 12, 2012 9:00pm EST
class, we're name-calling, that is what we're down to, it seems feus fed futile for those of us watching at home. >> there is a solution that does include additional tax revenue, at the end of the day is a win for the president, higher tax rates is bad for the economy. >> you are so logical sir, you should have been in the office with the president, the fed act today, i continue is no surprise, are we doing more damage than gd-bye continues to pump liquidity into the economy? >> i think we are overtime, if the fed keeps running the same monetary play we'll get the same economic reports, which is a very slow, very irregular recovery, with the uncertainty still in place because of the white house talking of higher taxes, and president's new healthcare law, and a tsunami of new regulations seems that feds act is adding more uncertainty to the process, we don't need more liquity we need fiscal solutions. tracy: thank you congressman brady. >> thank you, tracy. tracy: coming up in a half hour, we take congress and the president to believe it or not, divorce court. quite familiar with the plac
CNBC
Dec 13, 2012 9:00am EST
. really following the cues of the u.s. markets this morning. our road map today starts with the fed announcing a new round of stimulus as chairman ber bernanke warps the fiscal cliff is hurting growth. house speaker john boehner expected to talk on the cliff talks 11 a.m. eastern time. >> told you this week, of course, they were talking actively, now, sprint/nextel offering to purchase the other half of clearwire it doesn't own. >> surges of best buy surging on reports that the founder is on the verge of making a formal takeover bid. >> and google maps has found its way back into apple's operating system. >> of course, we have to start off with the markets. dow's five-day winning streak has been snapped, despite the fed announcing a new round of stimulus. chairman ber bernanke say worries about the fiscal cliff are resulting in softer business environment and waning growth. members of congress told not to make plans for the christmas holidays, citing the urgency of striking a deal to avoid the fiscal cliff. the speaker set to given a update out state of negotiations with the white h
CNBC
Dec 11, 2012 12:00pm EST
whatever the fed's going to do. tomorrow it's widely expected bernanke's going to announce some kind of a transaction in which he buys basically $650 billion worth of mds. another $500 billion in treasuries. throw that on the pile. it's very tough to be overly focused on fiscal cliff stuff when you have the central bank doing what it's been doing all year in the background. that is what the market is watching. much more so than anything boehner has to say. >> joe, has santa claus -- is he coming early because of what the fed may do over the next couple of days? what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation. >> doesn't matter. >> it doesn't matter. >> market's go
CNBC
Dec 12, 2012 2:00pm EST
will see more. >> ty, over to you. >> thank you. the fed went on a shocker on the order of lindsay lohan saying she is staying home far month to bake cookies. we have more on ben bernanke coming up. that does if for "power lunch," ladies, gentlemen. thanks for watching. >>> welcome to a special edition of "street signs." we are minutes away from fed chairman's ben bernanke's news conference. there is a specific employment rate along with inflation target, there is a lot to talk about. let us bring in steve with more and the fed's outlook, steve? >> i think the story here today is federal reserve despite saying it will spend something like a trillion dollars in additional qe this year or next year is lowering its economic forecast. if you look at the outlook for 2012 through 2015, it actually lowered the outlook from its september forecast. take a look here. tenth off of 2012. tenth off of 13. 15 bases points out of 2014 and 2015. look at what the federal reserve did with unemployment rate. it did lower that as well. remember that a key reason why the federal reserve announced today
CNBC
Dec 14, 2012 4:00pm EST
interest rates. >> rv j., how are you taking advantage of the low rates and what was your take on the fed the other day? >> in the fixed income space what we actually like in taking advantage of low rates is going down the credit curve. that means the high-yield sector and corporate credit, that means the non-agency mortgage sector when it comes to the securitized side. as far as the fed the other day, we actually don't -- we are prepared to take the federal face value when we say that this doesn't materially change the timetable that they had in mind. it is just a better policy framework than putting an arbitrary date out there. now the question, maria, comes to when you come to 2014, and if the employment rate has kept falling as quickly as it has in the last year, year and a half and at 6.8%, 6.7% on the unemployment rate hypothetically, does the market then automatically start to tighten policy for the fed? does it start to anticipate higher rates, or does the fed start to bring those expectations down, saying 6.5% isn't the end of the world but that doesn't mean we're actually going.
CSPAN
Dec 13, 2012 6:00am EST
unemployment is 6% or perhaps a bit lower. in the longer run, the fed funds rate is around 4% according to these projections. it suggests that when the fed started raising interest rates down the road, it might have to move fairly quickly to get to equilibrium at the fed funds rate. is that the case in more generally, can you talk about what this framework you set up today says about the exit strategy you have laid out some time ago? >> that's a good question. we don't have a precise estimate of the long run sustainable unemployment rate. the estimates that were provided in the summary of economic projections today, as has been the case for a while, is 5.2%-6.5%. that gives us some time. my anticipation is that the removal of accommodation after the takeoff point, wherever that occurs, would be relatively gradual. i don't think we are looking at a rapid increase. that depends on where inflation is and other conditions but the path that we are basing these numbers on is one that assumes an increase in the funds rate first occurring sometime after unemployment goes below 6.5% b
CBS
Dec 9, 2012 6:30pm EST
how it went down this afternoon at fed ex field. rg3 coming out of the tunnel for his first beltway battle. here's play you will see over and over and over again. rgiii scrambling trying to make a play when he is hit in the knee. he was knocked out of the game and he was unable a finish the drive despite trying. but this is why the redskins drafted kirk cousins. cousins finishing off the drive with a touchdown pass to pierre. and fresh off the bench that forces overtime and mr. automatic after a long punt return this kid is special. forebath 11 for 11 on field goal attempts. redskins stun the ravens 31-28. dave owens has been out at fed ex field all day and joins us now live from landover. dave, i bet that crowd was rocking out there this afternoon. >> reporter: yeah, kb, 81,000 plus here at fed ex field they were almost going to blow the roof off a this place no doubt about that. if there was a roof. you know what i am getting at. i will tell you what i don't remember a better game here at fed ex field and i been here for 4 plus years covering the redskins. as you said, rgiii out c
CSPAN
Dec 12, 2012 6:00am EST
time. we have created another bubble. my view is the reason the fed is doing that is because the mandate was changed in the late 70's to where they have to be concerned with unemployment. we need a fiscal deal. the fed is the onlythe fed has to change its policy unsustainable over time. >> right. >> one of the most successful physical consolidations in the developed, democratic world in canada, in the mid 1990's, and i ask the canadian politicians how did you do it? the public went from cheering on spending to deficits within a matter of a year or two. the government in canada now risks some peril if they do not balance their budget. the answer you most frequently get is all they had to do was say, 40% of revenues was going to pay the interest bill on the canadian debt, and the public immediately realized that was not a great idea. we cannot make that argument. we run these massive deficits and because interest rates have gone down, the interest bill has barely moved at all. that. even with the modest projections in terms of the interest rate increases they see over time, we are
CNBC
Dec 12, 2012 7:00pm EST
are joining them. geez, i may faint. now to washington, d.c. with fed chairman ben bernanke sent a chill down the spine of traders on wall street. bernanke said the fed's money printing should last only until we hit 6.5% unemployment. markets didn't like that one bit and a good rally was completely erased. and we go to damascus where the assad regime is firing scud missiles and where did those missiles come from anyway? >>> in a letter to senate majority leader harry reid, 18 democratic senators are requesting a sweetheart deal to delay a 2.3% medical device tax that is part of obama care. due to start january 1st. but you know what, may i with all respect, these guys are hypocrites. they're not supply siders. yes, the tax is a job killer, as they say, but it's only hitting their states. the senators claim the medical device tax kills jobs but why aren't they against all the other job killing obama care taxes or for that matter the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lou
CNBC
Dec 12, 2012 5:00pm EST
, an interruption in our obsession with the fiscal cliff negotiations. today was all about the fed. a rally was up 80 points on the dow at one time until midday when bernanke had his news conference and took all the wind out of the sales. down three points at 13,245. that does it for "the closing bell." >> "fast money" starts right now and i do believe maria is back tomorrow. >> she will be. see you tomorrow. >>> traders get what they wanted. >> if unemployment never goes below 6.5% again, we're going to have a quarter percent forever. >> so, now it's a race to see who can buy more lumber futures for printing currency between the japanese and the americans. >> but chairman bernanke is a buzz kill for stocks today. >> the asset purchases are a less well understood tool. we have -- we'll be learning over time about how every cautious they are, about what costs they may carry with them in terms of untended consequences. >> and we're back to worrying about a thelma and louise finish to the fiscal cliff. maybe that wouldn't presidentbeo so bad. >> when the government does things, it usuall
FOX Business
Dec 13, 2012 3:00pm EST
fox business lackluster retail sales from the fed announcement yesterday turning on the stick is beginning next month painted the market red leaving me wondering if high investors, the smart money might be changing their investment strategy. we thought we would bring in, millions of dollars, they want to see the money grow. joining us in a fox business exclusive. you seem like a very measured person, that is why you have a lot of wealthy clients because you must do well for them. after the announcement they would once again kick in the bond buying program about $85 billion every single month. are you changing the way you are investing these people at all in any way shape or form? >> not at all. this was a double edged sword. expected the market to really pop a lot yesterday and it didn't. what that tells me is they are expecting us to go off the cliff, we already knew they would keep interest rates below for a very low timelong time. it made me wonder, what am i going to change for my clients? nothing. i'm expecting a zero rate environment for long time. liz: what about the fisca
CSPAN
Dec 16, 2012 6:00am EST
reason the fed's doing that is because marathon update has changed in the late 70's to where they have to concerned with short-term employment and the absence of the congress and the president work together to get a fiscal deal, they're the only game in town. we need a fiscal deal and the fed has to change kits policies because both are imprune and unsustainable over time. >> right. >> one of the most successful fiscal consolidations in the developed democratic world in the mid 1990's, and i frequently asked canadian politicians how did you do it? the americans went from cheering on spend and to the torrances of deficits within a matter of a year or two. and so the government in canada now with some peril if they don't balance their budgets and the answer you most frequently get is all they have to do was say at 40% of revenues was going to pay the interest bill on the canadian debt? and the public -- they realize that was not a great idea and became strongly against increasing the debt further. we can't make that argument for all our reasons david said. indeed, we've run these massive de
CNBC
Dec 13, 2012 4:00pm EST
of moving money? >> i think you don't fight the fed. i think what happened yesterday is a little bit more of the same we had this year which is the fed is going to try to keep interest rates low until it moves people off the risk spectrum which means between bonds and equities we still favor equities. >> isn't it interesting, ed, that you've got the federal reserve now targeting an unemployment report rate in terms of moving on interest rates. 6.5% is the number, you know, that was spoken about so much yesterday. it that change your investment position in any way? >> no. i mean, it's pretty -- it's pretty simple to understand what you need to do. you need to buy equities if you're going to be real focused. look at equities with a little bit of a china exposure because china is starting to bottom a little bit, we think, so that's where i would focus. the number one thing and the greatest clarity i have in 26 years in this business, stay away from interest rate sensitive bonds and stay away from bond funds, and that's what you need to be doing right this moment. >> so you go on equitie
CNBC
Dec 16, 2012 7:30pm EST
"the wall street journal report." i'm maria bartiromo. a bold move by the fed, a standstill in washington, and the fiscal cliff moves ever closer. my talk with the man behind the no tax increase plan, what grover norquist thinks what will happen next. is he a big loser in the negotiations? why companies may be looking for the art history major rather than an engineering one. "wall street journal report" begins right now. >> this is america's number one financial news program. "the wall street journal report." now maria bartiromo. >> here is a look at what's making news as we head to a new week on wall street. the federal reserve goes where it's never gone before. at its meeting this week, the fed's open market committee announced a new target that it will keep interest rates low until the unemployment rate hits 6.5%. that's the target. that's the first time it has linked employment to interest rates. the fed also announced a plan to continue buying $40 billion a month in bonds to keep interest rates low. but, of course, the big news was about those jobs. >> the conditions now p
PBS
Dec 16, 2012 3:30pm PST
will relapse recession. issue three. 12/12/12 and the fed. >> 12/12/12. a once-in-a-lifetime triple same digit date and the day the chairman of the federal reserve board, ben bernanke, announced an unprecedented strategy. >> a strategy that we believe will help support household and business confidence and spending. >> for the first time in the federal reserve board's 100- year history, the central bank is directly basing its interest rate on the state of the economy. interest rates are now low and will stay low, near zero, says the fed, until unemployment, now at 7.7%, drops below 6.5%. this could be a tall order, one that takes years. and there's more. during that time, for rates to stay low, the inflation rate must also stay low. below 2.5%. the principal reason for the fed to keep interest rates low is to keep the cost of borrowing money low. the fed hopes that new money will boost the confidence of businesses and investors. >> by tieing future monetary policy more explicitly to economic conditions this formulation of our policy guidance should also make monetary policy more tra
FOX
Dec 11, 2012 4:00am PST
the nasdaq. gold was up and oil was down. a two-day fed meeting starts today with the fed most likely talking about stimulating the economy by purchasing more treasury bonds to keep interest rates low. the government is selling its remaining stake in aig... and reports say regulators have a $1.9 billion dollar settlement with hsbc. the bank is accussed of laundering money for drug dealers and terrorists. john brady of rj o'brien joins us now. john, are you seeing any special positioning ahead of the fed? > > we have angie. over the course of the last two weeks so, we have seen equity markets continue to "melt up," as traders would say, continue to be sort of supported by this idea that the federal reserve is going to continue its method of quantitative easing. the fed meeting to start today. however, we will receive the announcement from the fed tomorrow, perhaps around 1:00 or so wednesday. but, the idea is that risk assets, both equities and metals, commodities mostly, continue to melt higher with the idea that the fed is going to continue to monetize its debt and supply exce
CNBC
Dec 12, 2012 9:00am EST
eurozone in production this morning. >> the road map starts this morning with, of course, the fed. expectations for revamped bond buying program. what will the economic forecast say about next year and what to make of the "wall street journal" story that says academics are driving monetary policy at secret dinners in switzer land. >> more counteroffers in the debt negotiations. it looks like corporate taxes are part of the deductions. >> costco beats by 2 cents, better sales and better sales and membership fees. >> some more reports about apple tv today. the journal said it's designing a high -- new high-resolution set. microsoft trying to widen the list of retailers that will carry the surface tablet. the fed is going to wrap up its two-day meeting. a watch is on to see if ben bernanke and policy makers make a decision about the interest rates. later on, the chairman will hold a news conference, and of course, cnbc, will bring it to you live. coverage beginning at 2:00 p.m. eastern. jim, a lot of discussion about how much they are willing to do, given the tenuous nature of the ta
CNBC
Dec 17, 2012 6:00am EST
. >>> coming up, bob doll gives us his outlook for the fed. linking rates to the unemployment rate. then at 8:00 eastern, a cnbc exclusive, david tepper, one of the world's top performing hedge fund managers will give us some of his investing wisdom and what will be a can't miss "squawk box" interview coming right back. [ penélope ] i found the best cafe in the world. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on
FOX Business
Dec 13, 2012 12:00am EST
market headlines the fed announced new measures to help stimulate the economy but apparently investors were not impressed by fed chairman bernanke's afternoon press conference. stocks gave up all of their early gains and the dow closed down two points. >>> shares of warren buffett's berkshire hathaway getting a jolt. the company is repurchasing 9200 class-a shares from the estate of a quote, long-time shareholder. >>> another business giant repurposing shares. dupont will buy back one billion shares of its stock. it also adjusted its 2012 earnings outlook to the top end of the expected range. shares rose more than 1%. >>> now to our top story. a huge natural gas explosion erupting in west virgina. fouromes went up in flames yesterday before collapsing another five with severe damage. fortunately -- look at that! fortunately no one was killed. but this is not the first time we've seen this of course. it begs the question, would natural gas use is booming across the country will explosions like this happen more often? joining me now is tyson slocum, director of public citizen's energy pr
FOX Business
Dec 11, 2012 6:00pm EST
. meanwhile, is more fed stimulus needed to boost our economy? is the fed actually doing more harm than good? federal reserve policymakers meeting today and tomorrow to discuss more monetary policy. now, it's the last time they get together this year, and some say get ready for the launch of qe4 potentially as soon as tomorrow. that news made investors happy today with the dow rising for the fifth day in the row. s&p ending at the best level since election day. joining me the federal reserve governor wayne engle. governor, thank you for being with us. doing more harm than good by putting more money in the system? there's a law that diminishing returns that kicks in. >> well, it doesn't have to be that way. it is that way somewhat because the fed is paid that 25* -- 25 basis points for banks to hold sterile rereceivers, and the regulatory thrut is don't make loans. make loans, criticize them, and so the hassle over regulatory restraint on lending and paying to excess reserves has left us with not a very effective monetary policy at this time. tracy: right because if i'm a bank, why lock into
CNBC
Dec 14, 2012 6:00am EST
exclusive interview with dallas fed pet jrichard fibber. and the interview of the morning you do not want to miss. it is a crazy story we've been talking about for the past two weeks. john mcafee will be joining us live on camera at 8:40 a.m. eastern. we're going to get the latest chapter in this mystery that has murder, mayhem and suspension. his life is the movie of the week, if you will, and we will have it live right here at 8:40. please, do not miss that. let's get you caught up on some of the other headlines this morning. house speaker john boehner and president obama met for the second time this week. both parties are trying to avoid the fiscal cliff. the men had a frank discussion and the lines of communication remain open, although no specific details were released. the meeting came after frustration in washington. this was house speaker boehner earlier in the day. >> republicans want to solve this problem by getting the spending line down. the president wants to pretend the spending isn't a problem. that's why we don't have an agreement. >>> president obama remains hopeful
CNBC
Dec 13, 2012 12:00pm EST
report." >> indeed, it is. down 27 points on the dow. the rally from the fed, of course, relatively short-lived as things turn out. let's get with it, then. here we go. this is now "the halftime report." >> guys, thanks so much. welcome to "the halftime report," four hours to go until the close, and here's where we stand on this day on the street. take a look. we do have red arrows across the board. here's what we're following. fedspeak. what did the chairman really say yesterday to the markets, and are stocks just getting it plain wrong? >>> rally in motion as r.i.m. shares hit a seven-month high. our traders square off on the suddenly surging smartphone maker. >>> google has battered apple over the past six months, and the two stocks are going in very different directions yet again today. which one is your best bet right now? we do have them set up in the wrestling ring here for the battle royale. our traders for the hour, josh, joe, stephanie, jon, which one is your best bet now? because they've been going in opposite directions. >> they are. apple up 31%, google up 9% but that d
CNBC
Dec 12, 2012 4:00am EST
reductions before year end. >>> and let's twist again. the fed set to announce a fresh around of bond purchases to match the outgoing twist program at the end of the year. >>> the international community blasts north korea after it successfully launches a long-range rocket, prompting an emergency u.n. security council meeting. >>> all right. a very good morning to you. we are going to be on to opec later. we've got the latest i.a. data out this morning. they're saying global oil demand projected around 90.5 million barrels a day. more than forecast. they say non-opec production bouncing back. an something bit. they're saying opec crude supply inched up in november led by higher output from saudi arabia. >> i think we'll have to call this today the case of the two oil reports. we have the opec report that they put out ahead of the meeting showing different figures from what the iea is saying. >> they're saying saudi arabia figures saying we produce less. now the i.a. saying they produce more. also interesting, they're saying in iran, iranian production edging lower under the weight of
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